Dissertation > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management

Theoretical Study of China’s Capital Structure Assessment of the Situation

Author ZhaoLe
Tutor XuChunLi
School Tianjin University of Finance and Economics
Course Accounting
Keywords Capital Structure Capital structure theory Capital Structure
CLC F275
Type Master's thesis
Year 2010
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Since 1958 , Modigliani and Miller proposed capital structure theory in the modern sense -MM theory attracted the attention of many scholars of the capital structure theory , with the ongoing research of the capital structure , the theory of capital structure is also more and more rich . Our capital structure theory started relatively late , no matter of public concern early in our country , the implementation of the planned economic system , the corporate capital structure , with the reform and opening up , China's socialist market economic system, the establishment of corporate fund-raising channels change in the pattern , and its own development needs , the corporate capital structure gradually become the focus of the field of financial theory . This paper is the use of a standardized research methodology , a simple review of the development of the theory of capital structure , and is based on the research of Chinese scholars in recent years , mainly from the macro - environment , industry factors and corporate governance which three China corporate capital structure theory research status and summarized , and combined with the capital structure of the country at this stage to analyze , integrate theory with practice . In the background , methods and content comparison with foreign capital structure research that form our distinctive theory of corporate capital structure theory research should focus on research methods , development time is short , with little experience , a combination of normative and empirical building and expanding the coverage of the sample data , in terms of research content to focus on the extension of the micro - environment , and should strengthen the model , such as the introduction of human capital theory of capital structure , making the scope of the study of the theory of capital structure is broader. Finally, based on the capital structure of Chinese enterprises theoretical research direction of exploration , the direction of the capital structure of Chinese enterprises optimize the analysis , to phase of our corporate capital structure research will certainly help , also hope you scholars able to be able to continue efforts , the theoretical application to practice , from practice to guide the development of the theory .

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